Nucor Corp., Charlotte, NC, has acquired 96% of Toronto-based Harris Steel for C$46.25 in cash per share. Nucor intends to eventually buy all of Harris and take the company private.
Harris Steel has several business units: Harris Rebar, involved in the fabrication and placing of concrete reinforcing steel and the design and installation of concrete post-tensioning systems; Laurel Steel, a manufacturer and distributor of wire and wire products, welded wire mesh and cold finished bar; and Fisher & Ludlow, a manufacturer and distributor of heavy industrial steel grating, aluminum grating and expanded metal.
Harris also participates in steel trading on a worldwide basis through Novosteel and in the distribution of reinforcing steel and allied products to customers in the U.S. through Harris Supply Solutions.
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